“I don’t know that we’ve seen anything like this since the government told the automakers what kind of tanks to make during World War II,” he said. “And that was just for the duration of the war — this could be for much, much longer.” Full Story »
Posted by Kaizar Campwala
Insightful analysis, but could have been better explained. I could see the first third-or-so of this piece being confusing to someone not familiar with Youngstown Sheet & Tube v. Sawyer (see links). This is a key case in the nationalization of industry and should have been elucidated. Context is good, though, especially with regard to the comparison to Japanese auto industry. Also takes care to lay out the major risks for Americans in the auto bailout.
“If Japan was doing this, we’d be threatening billions of dollars in retaliation,” said Jeffrey Garten, a professor at the Yale School of Management, who as under ... More »
Sanger's lively writing brings to life the interplay between politics, economics, business management, trade policies, and international relations. His comparison provides beneficial context, relating today's dire times and proposed strings-attached rescue loan for auto manufacturers to Truman's seizure of steel mills for national interest.
I like this article--and hold a somewhat different point of view. I agree that there will be many howls of pain and outrage over "nationalization" of industries. These howls will come from the same folks who cheerfully coughed over $700 BILLION in taxpayer money to rescue Big Finance, under the sole discretion of Henry Paulson. With some $450 BILLION already disbursed--without any requirements, or any way to even find out where it went--the same people are quibbling over a LOAN to ... More »
The first $15 billion and the car czar who oversees it, however, are only the beginning. “After that, we’re in uncharted water,” said Malcolm S. Salter, a professor ... More »
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